Smartworks Coworking raises $25 mn from Keppel Land

Shared office space provider Smartworks Coworking on Thursday said global multi-faceted property company Keppel Land has invested USD 25 million for a minority stake. While the investment marks a foray for Singapore-based Keppel Land in India, Smartworks plans to utilise the funds for expanding its presence in the country, a company statement said.

"This investment allows Keppel Land to enter one of the worlds fastest-growing flexible office markets, opening doors for further growth through this collaboration," Keppel Land CEO Tan Swee Yiow said. He further said there are many opportunities for cross-learning and collaboration between Smartworks and Keppel Land's smart serviced co-office platform, KLOUD, which currently has a presence in Singapore, Vietnam and Myanmar.

Founded by Neetish Sarda and co-founded by Harsh Binani in April 2016, Smartworks has a presence in nine major Indian cities including, Delhi, Noida, Gurugram, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune with 23 operational centres offering a total of about 43,000 workstations spread over 2.3 million sqft. "With this strategic investment by Keppel Land, we will be able to scale up even more rapidly across the country's tier I and II cities and further invest in building up our next generation product, improving client experiences, as well as boosting our talent and technology," Sarda added.

PTI PSK AP AP.